North Dakota: In the Spotlight
North Dakota, often known as the Roughrider State, is home to around 723,300 people. The state of North Dakota is the 48th most populous state, and is also home to cities like Fargo, which is the most populated city in the state with more than 121,000 residents. Bismarck, the capital of North Dakota, is another key location in the state, with more than 72,000 people calling the region home.
- Beulah, North Dakota is home to the Dakota Gasification Company, which is the country’s only synthetic natural gas producer.
- North Dakota State University is the largest employer in North Dakota, with over 4,500 employees.
- Agriculture, Energy, and Tourism are the largest industries in the state.
- The average household income is $64,894.
- The average age in North Dakota is 35 years old.
- North Dakota has over 353,000 employees across the state.
- The home ownership rate is roughly 62%, which leaves around 38% of the residents looking for apartments and rental properties.
North Dakota Apartment Loan and Multifamily Property Facts
North Dakota is seeing significant growth in many cities and regions when it comes to new residents seeking multifamily living. Condos and apartment buildings are growing in popularity once again, and with the development going on in some cities, opportunities will be plentiful for the foreseeable future. The 2020 market, like many, was a little slow, but it still made some big impacts.
- North Dakota is home to several cities that are prime markets for investors to acquire a rental property investment in for 2021.
- Rents in North Dakota are 2.31% lower than the previous year.
- The average rent in North Dakota is $826.
The market for commercial real estate in North Dakota is huge and growing by the day, thanks to an ever-expanding job market and a growing base of young families who prefer to rent rather than buy a home. Those who get in now will have a better chance of finding the best deals and not overpaying or missing out on the biggest profit potential. The state is expected to see above-average population growth through 2024, contributing to an ever-increasing demand for apartments, condos, and other rental units.
North Dakota Apartment Loan and Lending Options
In the state of North Dakota, there are several different ways that you can finance your new apartment investment, whether you’re looking for a massive multi-unit tower in Bismarck or a simple eight-unit property in an up-and-coming neighborhood of Grand Forks. We work with opportunities like:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS loans
- Bridge loans
- Apartment construction loans
- And more!
Finance Your North Dakota Apartment Building Now
The Apartment.loans team specializes in commercial financing for all kinds of real estate and apartments in North Dakota and throughout the United States. We have solutions for commercial real estate, traditional apartment financing, value-add opportunities, and more. We can even help you with ground-up developments or just get you financed for a stabilized property so you can be on your way.
Our team of experts knows what it takes to get the loan funds that you need. Whether you’ve got a special investment in mind, or you have basic funding needs, let us know how we can help. We'll give you all of the tools and resources you need to take your North Dakota apartment loans to the next level. To learn more and start your investment journey, contact our North Dakota Apartment Lending Specialists at [email protected] or (800) 567-9631.
Apartment loans from $750,000 and up.